The entertainment industry is worth billions of euros and is one of the most popular industries in the world. Why? People love doing fun stuff. It’s as simple as that. The iGaming sector is no exception, with online casinos, sports betting, and poker all being extremely popular among the wide population. The Baltics are no different.
There are many reasons why the iGaming industry is booming in the Baltics. Firstly, there is a big demand for online gambling services in the region. Secondly, the Baltics have a very favourable environment for new industries and are especially open to “digitalization” and internet-oriented industries, with Estonia being an example for even the more developed countries.
Lithuania is leading the way
The iGaming industry is booming in the Baltics, with Lithuania leading the way. According to a recent report by the European Gaming and Betting Association (EGBA), the Lithuanian market is worth an estimated €240 million thanks to the popularity of services such as live casino and online slots. This growth is being driven by several factors, including the fact that the country has a relatively young population, a high level of internet penetration, and a growing number of people with disposable income.
There are currently around 40 online casino. lt sites licensed in Lithuania, and the government is said to be considering introducing a new tax on gambling operators to generate additional revenue. Even though the Lithuanian market is relatively small, it is one of the most lucrative in Europe, and it is likely to continue to grow in the years to come. It is no surprise that many big names in the iGaming industry have already set up businesses in the country, and more are sure to follow.
The other Baltic states are also seeing a boom in the iGaming industry. Latvia, for example, is home to around 20 online casinos, and the country is said to be considering following in Lithuania’s footsteps by introducing a new tax on gambling operators. Estonia, on the other hand, has a more developed iGaming industry thanks to its e-residency program, which has attracted many international operators.
Gaming industry is on the rise, with iGaming being an integral part of it
A recent report by SuperData research showed that the Baltic gaming market is worth 650 millione euro, making it one of the fastest growing markets in Europe. The report found that the majority of gamers in the Baltics are between the ages of 18-34, and that most of them play online games on their smartphones. The most popular genres among Baltic gamers are first-person shooters, multiplayer online battle arena (MOBA) games, and real-time strategy (RTS) games.
The Baltic region has a very high broadband penetration rate, which is one of the main factors driving the growth of the iGaming market. In addition, the Baltics have a young and tech-savvy population that is very open to new gaming experiences. All of these factors together make the Baltics an ideal market for iGaming companies.
With new technologies and shift in trends, the definition of the “gaming industry” has also changed over the years. No longer is it just about video games, but now includes all forms of digital gaming, including online casinos (“iGaming“). According to recent studies, the global gaming industry is now worth over $1 trillion, with iGaming accounting for a significant portion of that. And the Baltics are at the forefront of this growth.